Filed under: Cars and Transportation, Local, GreenFinance
US auto industry reacts to the slumping economy and a paralyzed credit system. Here at the end of 2008, all automakers are in panic mode, and it appears that several of our favorite green automotive projects are being affected.
In what’s probably the most freaky news of the week, Chrysler has announced that it’s shutting down all production for one month in North America starting tomorrow. Yes, you read that right: they’re shutting down all production for one month — in Mexico, Canada, and the US.
More bad news came when GM announced that it was delaying construction on the $370M Volt and Cruze engine factory they had announced only a few months ago. To top it all off, reacting to their first sales decline in 13 years, Toyota has decided to halt construction on a Prius factory in Mississippi that’s reportedly 90% complete. Crazy right?
Now, none of these measures are supposed to be permanent, but then again, with next year’s outlook being pretty dismal, its unlikely that the demand for cars is going to rocket back up to 2006 levels and make all of these projects look more appealing. [via Eart2Tech]
Automakers Slam on the Brakes, Screech to a Halt originally appeared on Green Daily on Thu, 18 Dec 2008 14:30:00 EST 0. Please see our terms for use of feeds.
